U.S. Retail Gasoline Rises to $2.04 a Gallon in Lundberg Survey

U.S. gasoline pump prices rose about 5 cents in the past two weeks to an average of $2.0408 a gallon, Trilby Lundberg said, citing a survey of about 7,000 filling stations by her Camarillo, California-based market research firm.

Rising crude-oil prices were the main cause of the increase, Lundberg said in a telephone interview. Crude-oil futures in New York closed at an all-time high of $55.17 a barrel on Oct. 22, the day the survey was conducted.

“In fact, gasoline prices haven’t caught up with crude-oil prices in the past two weeks, so there is more pressure for retail gasoline prices to rise a bit further,” Lundberg said.

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